https://www.taxtmi.com/caselaws?id=204609 HC upheld the reassessment under Section 147/148 as valid despite absence of a prior notice under Section 143(2), noting the Act does not mandate issuance of s.143(2) before a s.147 reassessment. The court found interest of Rs.93,81,222 on fixed deposits, kept while litigation over a bid was pending, constituted income from other sources rather than pre-operative or capital expenditure. Accordingly, the interest was taxable and could not be set off as pre-production expense. Decision rendered in favor of the revenue. en-us Mon, 11 Jul 2011 00:00:00 +0530 Thu, 21 Aug 2025 16:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204609 HC upheld the reassessment under Section 147/148 as valid despite absence of a prior notice under Section 143(2), noting the Act does not mandate issuance of s.143(2) before a s.147 reassessment. The court found interest of Rs.93,81,222 on fixed deposits, kept while litigation over a bid was pending, constituted income from other sources rather than pre-operative or capital expenditure. Accordingly, the interest was taxable and could not be set off as pre-production expense. Decision rendered in favor of the revenue. Case-Laws Income Tax Mon, 11 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204609